May 14--It's graduation season, and credit-card comparison website CardHub said it compared more than 1,000 offers, and found "drastically different" rates, rewards, fees and approval requirements for graduates entering the real world. A factor: a graduate's credit history could be as long as four years -- or nonexistent.
CardHub recommended at least two cards each for graduates with good credit, for those with active school email addresses and limited or no credit; and for those with inactive school emails or spotty credit.
For graduates with good credit, CardHub recommends Capital One Quicksilver Cash Rewards and Chase Slate. The Capital One card, for example, offers 1.5 percent cash back on all purchases in addition to a $100 initial bonus for spending $500 in the first three months, CardHub said, also noting that it has no annual fee.
For graduates with active .edu email addresses and limited or no credit, CardHub likes Capital One Journey Student Card and BankAmericard for Students. The BankAmericard, for example, gives users 0 percent financing on new purchases for the first 15 months, CardHub said.
For graduates with inactive .edu addresses or credit missteps, CardHub said the Capital One Secured MasterCard or the Harley-Davidson Secured Visa should be considered. The Harley-Davidson card requires a minimum security deposit of $300 and stands out partly because it doesn't charge an annual fee.
byerak@tribpub.com
